In February, the Clean Energy and Sustainability Accelerator Act was reintroduced to Congress. The legislation would allow for the creation of a national green bank, which would use $100 billion in private and public funds to invest in clean energy projects. This move, together with the fact that 39% of voters said they would take environmental factors into consideration when choosing a bank, seems to point to the financial industry getting greener.
“We’re living in a time of great societal change, and consumers have made it clear that they want brands to take a stance on things like sustainability and racial justice,” said David Reiling, CEO of Minnesota-based Sunrise Banks, a bank that brands itself as socially responsible. “Frankly, companies need to make a commitment one way or the other – they can’t remain silent.”
Startups are working on green solutions for banking and commerce.
Aspiration is a challenger bank founded on environmental principles that lets users plant a tree for every purchase they make.
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